$23.1 million worth of $ONDO tokens were distributed to four wallets this morning. Historical behavior indicates they may flow to exchanges. It seems that the dog whales are also scared by the upcoming unlock and are preparing to run early.

ONDO will unlock 1.71 billion tokens on January 18th, worth approximately $800 million. Currently, ONDO's market cap is only around $1.9 billion. With this large amount of tokens being unlocked all at once, the market definitely can't absorb it. In the short term, a rebound is likely, but in the long term, ONDO might first see a 50% drop before recovering.